Flex Space with Two
For Sale
$495,000
8450 E Main St, Reynoldsburg, OH 43068
Community Commercial zoning supports office, storage, vehicle storage, and operational uses across two separate barn structures.
Property Size1,250 SF
Lot Size1.30 Acres
Price / SF$396
Days on Market28
Property Features for 8450 E Main St
General Information
Standard status
Active
Size
1,250 SF
Lot size
1.30 Acres
Zoning
Community Commercial
Additional Details
Outdoor Storage
Yes
Building Details
Year Built
1985
Buildings
2
Listing Agency:
Keller Williams Greater Cols
(614) 537-3888
Listed By:
Mark A Sullivan · License #2010000493
Source:
Dreamcolumbus
Added: Aug 3
Changed: Aug 29
Last Checked: Aug 29 at 7:11PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Greater Cols
Investment Insights
Based on property information with market context.
This flex space includes two separate barns on a 1.3-acre commercial property. The front barn contains two private offices along with vehicle storage for company trucks, trailers, service vehicles, or specialty equipment. A rear barn provides additional room for products, materials, tools, machinery, and equipment, separating administrative and vehicle functions from general storage.
The property is located at 8450 E Main St in Reynoldsburg, Ohio, and carries Community Commercial zoning. The site’s outdoor area provides space for vehicle maneuvering, equipment staging, material storage, and parking. Built in 1985, the property combines office accommodations with enclosed storage and operational space for a range of commercial businesses.
The property is located at 8450 E Main St in Reynoldsburg, Ohio, and carries Community Commercial zoning. The site’s outdoor area provides space for vehicle maneuvering, equipment staging, material storage, and parking. Built in 1985, the property combines office accommodations with enclosed storage and operational space for a range of commercial businesses.
Key Highlights
- Two separate barns provide distinct office, vehicle, and general storage areas
- Front barn includes two private offices and vehicle storage
- Rear barn offers storage for products, materials, tools, machinery, and equipment
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$17,636
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
3.56%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$352,720
$352.7K
Cap Rate 7%
$251,943
$251.9K
Cap Rate 9%
$195,956
$196.0K
Market Conditions
NOI Build-Up for 1,250 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$27.3K $21.84/SF
− Vacancy
−$6.6K −$5.24/SF
EGI
$20.7K $16.60/SF
− OpEx
−$3.1K −$2.49/SF
NOI
$17.6K $14.11/SF
Area
Franklin County, OH
Vacancy
24.00%
Lease Rate
$21.84 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$352,720
Cap Rate 7%
$251,943
Cap Rate 9%
$195,956
Alternative Uses
Best Use
Warehouse
$251.9K
$220.5K – $293.9K
NOI $17,636 @ 7.0% cap · market cap 3.56%
Second Best
Office B
$219.9K
$192.4K – $256.5K
NOI $15,390 @ 7.0% cap · market cap 3.11%
Theoretical Best
Specialty Retail
$254.8K
$223.0K – $297.3K
NOI $17,839 @ 7.0% cap · market cap 3.60%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
168
Businesses Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Demographics for 43068, OH
59,585
Population
25,294
Households
2.4
Avg Household Size
36
Median Age
30%
College-Educated
91%
High-School Grad
19.6 sq mi
ZIP Area
3,040
Density / Sq Mi
$70,451
Median Household Income
$42,327
Median Earnings
$1,214
Median Rent
$225,500
Median Home Value
Market
Vacancy Rate% for Office in Midwest region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - Community Commercial zoning supports office, storage, vehicle storage, and operational uses across two separate barn structures.
Where is this flex space located?
The property is located at 8450 E Main St Reynoldsburg, OH.
What is the asking price?
The asking price for this property is $495,000.
What are key features of this property?
This property features: Two separate barns provide distinct office, vehicle, and general storage areas; Front barn includes two private offices and vehicle storage; Rear barn offers storage for products, materials, tools, machinery, and equipment
